Topic: Will Cryptocurrency be a Global Currency in the Future? - page 4. (Read 681 times)
If bitcoin can become a global currency in the future then this will be very extraordinary because it is all our hopes as crypto users, but it will be difficult to happen and it will take time to adapt to the world community and for now the development of crypto is increasing then it will take a long time for the use of crypto in the community that is in the deep, If this can be realized in the future then the fiet currency no longer costs all switching to currencies in gital, but for now we expect the value of crypto can continue to increase.
Nope because as you can see there's still some of the countries that don't want this kind of technology to implement as a legal tender because of some reason.. Wherein only ELSAVADOR did that, for me even in the future it's too hard to tell to be honest in my personal opinion,. maybe adaption but not as a legal tender wherein only a digital asset.. In fact we don't know if there's a chance as well some of the country will make their own digital currency in the future like what happened to China, because for them it's a good idea than what crypto currency we have right now in the space.
If we just take a look at this time, it was our presumptions that it won't happen. But being considered as a Global currency I think it won't need all the countries that will participate, that might have some exemptions as we can't force others to take the risk. But what I'm thinking, having been accepted by the majority as their mode of payment aside from fiat, I think we're in that position.Maybe 10 years, 20 years from now, I don't think if China won't change its mind if all developing countries will adopt this new technology.
Nope because as you can see there's still some of the countries that don't want this kind of technology to implement as a legal tender because of some reason.. Wherein only ELSAVADOR did that, for me even in the future it's too hard to tell to be honest in my personal opinion,. maybe adaption but not as a legal tender wherein only a digital asset.. In fact we don't know if there's a chance as well some of the country will make their own digital currency in the future like what happened to China, because for them it's a good idea than what crypto currency we have right now in the space.
Bitcoin being the world's currency seems impossible. The main reason is that its value is unstable and difficult to control, especially now that many countries still consider Bitcoin illegal. Surely these countries have their own reasons. But even though it is not a world currency, I actually think that in the future Bitcoin will become a world asset that is getting better and known to many people.
Yes, It can be expected that cryptocurrency will be a Global currency in the future.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
Honestly, in just a few years, if all countries began to adopt cryptocurrency, whether it be Bitcoin or any other altcoin, cryptocurrency will be considered as a global currency, if the whole world starts to engage and participate in such activities then it is already considered as a global currency, it doesn't have to be the main currency since we all know that fiat also plays a role, this is the future, and in just a few more years, cryptocurrency will grow bigger.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
It is indeed increasingly seen to bring about revolutionary changes in the world of business and trade, and many highlights some positive activities, but because Bitcoin/cryptocurrency has a risk side due to the volatility and lack of clarity about this in terms of government views... this is the reason that Bitcoin/cryptocurrency are still on the threshold of certain considerations. Its characteristics in the virtual world are in contrast to the common currency that is characteristic of each country.This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
Bitcoin does have the potential to have a strong role in its role for humans, but this will still be a complement for each country only.
If we see the scenario now we can see that most countries have not clearly determined the legality of bitcoin, preferring instead to take a wait-and-see approach except El Salvador obviously which accepted BTC as legal tender back in September , with this progression we might see many other small nations start accepting .
if we see BTC still needs some regulation to operate in many countries , since the biggest hindrance is still the decentralized nature and the anonymous nature of transaction from different addresses which the administration across the globe fear would be used in malefactions and against then also evade capture .
the anonymous nature of any transaction could be very dangerous , especially when used by major organizations or for funding criminal activities , these things though exist even now in current fiat currencies published by governments but with BTC it could get even worse , this is probably the main reasons why countries like china which has banned BTC and Russia where they are not in goof terms with BTC .
if we see BTC still needs some regulation to operate in many countries , since the biggest hindrance is still the decentralized nature and the anonymous nature of transaction from different addresses which the administration across the globe fear would be used in malefactions and against then also evade capture .
the anonymous nature of any transaction could be very dangerous , especially when used by major organizations or for funding criminal activities , these things though exist even now in current fiat currencies published by governments but with BTC it could get even worse , this is probably the main reasons why countries like china which has banned BTC and Russia where they are not in goof terms with BTC .
In my opinion, I'm not certain that cryptocurrencies will become global currencies. If that happens, I think it will take a long time. The value of crypto has always been highly volatile, so its application in payment is still a bit difficult. Currently, there are countries that legalize Bitcoin, but many other countries don't have specific regulations on crypto, most will consider them as an asset.
If we look at the current situation where most countries still prohibit crypto to be used as a means of payment, then it is doubtful that crypto becomes
a global currency. The problem is that crypto uses new technology, so some countries choose to monitor crypto developments first before deciding to
accept crypto as payment. This means that it is not impossible that in the future crypto will become a global currency, but as you said, it will take
a long time for all countries in the world to accept crypto as a global currency. For now we should be grateful that at least we can still use crypto,
even if only as a digital asset.
Global currency?? I thought an ecurrency such as bitcoin is already a global currency and does not need any other recognition for this title because already it does not have any boarders to stop it such that it requires a currency conversion when trying to use it... honestly we dont need a stamp of approval by some regulators who in the first place were in the forefront rejecting these cryptocurrencies.
That will be the biggest challenge of bitcoin. Everyone expects bitcoin to be the digital currency of the future. But it's not easy bitcoin also gets a lot of regulation from the government. But it will definitely work in the future. We have a lot of support communities.
There are many possibilities that lies ahead for cryptocurrency especially bitcoin and considering cryptocurrency as a global currency is not impossible but for sure it may take time to happen since crypto was now struggling for the acceptance of every governments in every country. But good thing today was there are already some countries recognizes the huge potential of crypto it's a one step at a time for the acceptance of crypto. If ever crypto will not became a global currency I'd believe that it will be one of the circulating currency in worlds economy.
The BTC will be the father coin and there will be a lot of sub coins.
It's 2021— it's probably a great time to finally realize that not every single cryptocurrency today is trying to be money or a currency. Most of cryptocurrencies now are sort of like pseudo-equities; And the ones that are actually trying to beat bitcoin in the currency/SoV category will simply fail.
Also, I think it's clear that adoption is growing, but not at the rate at which it would replace fiat or even compete with it. I think that CBDCs will get more popular, and maybe ina few decades some countries will switch to CBDCs. But most will probably stay on fiat. As for decentralized cryptos like Bitcoin, I think there will be more places that accept it as payment, but that it will not be the dominating currency in the vast majority of countries, and that only 1-2% of countries would experiment by adopting a decentralized crypto and removing fiat as well as not having CBDC or relying on a stablecoin (like USDT).
If all countries can accept crypto, that will be better for crypto to grow fast and other options for all people to use crypto for payment besides using fiat or other payment systems. I think people will have a chance to become rich if they get the right way in investing in crypto because if they can work in the business related to crypto, they can have an investment and have a way to make money.
But with the volatility of bitcoin, maybe people will not use bitcoin as a payment instead of using bitcoin as an investment asset which can give them profit for a long time. In crypto, people will have many ways to use any coins they prefer to make a payment and select which coin has a low fee for the transaction.
But with the volatility of bitcoin, maybe people will not use bitcoin as a payment instead of using bitcoin as an investment asset which can give them profit for a long time. In crypto, people will have many ways to use any coins they prefer to make a payment and select which coin has a low fee for the transaction.
In my opinion, I'm not certain that cryptocurrencies will become global currencies. If that happens, I think it will take a long time. The value of crypto has always been highly volatile, so its application in payment is still a bit difficult. Currently, there are countries that legalize Bitcoin, but many other countries don't have specific regulations on crypto, most will consider them as an asset.
Yes, It can be expected that cryptocurrency will be a Global currency in the future.
That depends. What does that term mean to you and what is a global currency in your own interpretation?If you took a look at this Wikipedia article, it says in the first sentence that:
Quote
In international finance, a world currency, supranational currency, or global currency is a currency that would be transacted internationally, with no set borders.
Does Bitcoin fit this description? I would say it does. You can transact with it internationally. It has no country borders or geographical restrictions. Your coins arrive equally fast from one continent to another as well as one device to the other if they are both in the same room. Considering of course network conditions, congestion, set fees, etc.
This could happen although later not all countries will use bitcoin as a legal means of payment but for developed countries I think will use crypto currency as a legal means of payment in the future, but for developing countries this must be considered because there are still many people who do not understand how to use digital currency, And they must also be able to control state revenues to be more maximal in the future, and currently many state governments are learning about the use of crypto so that it can be used legally and not harm the country.
it is still very difficult to think about bitcoin being a global currency in the future. there are many reasons for this, especially when there are still many countries that refuse to use bitcoin as a currency, or medium of exchange. So far, people in general know bitcoin as an investment tool, not a medium of exchange because of its rapid fluctuations and fantastic price increases. In addition, currently the use of bitcoin is only used as an alternative, not the main one. another reason, bitcoin has a decentralized system. So, I don't think that the government will use a decentralized system to use it as a global system.
The chances of btc becoming global currency are one in million. Even if we see BTC, it has many shortcomings that prohibit its use at global level like price volatility, scalability, people awareness about btc and more. AFAIK, it has evolved n will continue to exist as independent financial system. Govt will never embrace decentralized crypto. Mark my words.
Yes, It can be expected that cryptocurrency will be a Global currency in the future.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
Why do you consider "cryptocurrency" to be one coherent currency?
Bitcoin is NOT a father coin of the altcoins and the altcoins are not sub coins to Bitcoin.
Altcoins are created to compete against Bitcoin,even though most of them follow the price trend of BTC.
The cryptocurrencies aren't a monolith.
Will they become a global currency?Well,they already are global currencies,but their user base isn't that big.
I don't understand what do you mean by "equal chances for the poor and rich for development"?
Yes,both poor and rich people can become cryptocurrency developers,if they educate themselves.
Cryptocurrency cannot make poor people rich,if you are talking about financial development.
Yes, It can be expected that cryptocurrency will be a Global currency in the future.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
The BTC will be the father coin and there will be a lot of sub coins.
Cryptocurrency is a unique kind of currency that has great potential.
It has an attraction for all ages of life. It has a great opportunity for those who want to do something and desire to step forward.
Moreover, It has equal chances for poor or rich for development .
This currency has brought a revolutionary change in the world of business and trade.
It promotes a positive activity also.
That’s still a questionable topic that need to be discussed.
To be honest , different people have different opinion on this.
I would say it will take more than a decade or so to accept it globally as a currency.
The reason for not accepting the coin is due to it’s decentralised nature.
Once everyone agrees on this decentralised thing, then i am sure it will be soon accepted by everyone.
it is still very difficult to think about bitcoin being a global currency in the future. there are many reasons for this, especially when there are still many countries that refuse to use bitcoin as a currency, or medium of exchange. So far, people in general know bitcoin as an investment tool, not a medium of exchange because of its rapid fluctuations and fantastic price increases. In addition, currently the use of bitcoin is only used as an alternative, not the main one. another reason, bitcoin has a decentralized system. So, I don't think that the government will use a decentralized system to use it as a global system.
There is a probability that maybe btc could be a global currency in the future, from the level of widespread adoption and acceptance it is easy to presume such things can happen, let's not forget the growing popularity in cryptocurrency and btc is the main head, so if there is going to be a global digital currency in the future, no doubt it will be btc.
I mean, it already is a global currency though. Just because it's not officially recognized by all governments as an "official" currency, doesn't change the fact that it's technically a currency accessible by people globally.
in my opinion, bitcoin is better to be a valuable asset and can be accessed by all countries and has legality. I don't like bitcoin being a legal tender. why ? because if bitcoin becomes a legal medium of exchange and is recognized by all countries, bitcoin will be controlled by the state and of course the price of bitcoin must be stable like the dollar and other currencies. to make a profit as an asset is really very difficult.
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